Advanced Fund Administration, a private equity and hedge fund administration company, has appointed Mark Lancaster as vice president of business development, based in the Summit, New Jersey office.

His primary focus is leading AFA’s sales and marketing activities.

Lancaster is a 20 year veteran in the financial services industry. Before joining AFA, he was with Depository Trust and Clearing Corporation where he was vice president of wealth management services, responsible for developing the Alternative Investment Products service and accelerating industry use of AIP to automate alternative fund subscription, redemption and post-trade processing.

"With the experience and industry pedigree of the staff and strength of the systems, AFA’s value proposition will be quite popular for small, mid-sized and large funds looking for a top-quality fund administrator. As hedge fund administration continues to rapidly evolve, system intensive independent companies will continue to drive much of the innovation," says Lancaster.